Mikhail Dmitrievich Prokhorov is the owner of the New Jersey Nets.  Prokhorov and Bruce Ratner's corporate parent closed the deal at 12:30 p.m. Wednesday.  Prokhorov is officially the principal owner of the Nets and his Onexim Sports and Entertainment Holdings USA controls 80% of the team and 45% of Barclays Center.

“This much-anticipated day has finally come and now the real fun begins of building a championship team with a state-of-the-art home in the Barclays Center at Atlantic Yards,” said the new owner in a statement.

“It’s a wonderful opportunity to combine great sports and good business, and I look forward to working with Bruce Ratner and Forest City and with the Nets organization as we move ahead,  To the fans, whether in New Jersey, Brooklyn, or Moscow, I will do everything I can to give you a winning team. See you at the Draft Lottery.”

Prokhorov will hold an introductory press conference in Manhattan next Wednesday.